House prices 'up in February'

New figures released by the Financial Times (FT) on its house price
index have claimed that property prices grew by 0.5 per cent in
England and Wales in February.

But the annual rate of growth in the month stood at 6.1 per cent,
lower than that seen in January, the FT said.

Chairman of Acadametrics - which undertook the research for the FT
- Dr Peter Williams claimed that it is likely that prices will
continue to fall in the months ahead.

"There is nothing to suggest this downward trend won't continue
despite our marginally higher monthly figure, even though the
fundamentals of demand and supply ... remain very favourable," he
commented.

And seven of ten regions in the two countries saw growth that is
lower than five per cent.

In London, annual property price growth stood at 12.7 per cent,
while growth of 7.8 was registered in the south-east.

Last week, the Halifax stated that house prices dipped by 0.3 per
cent in February.

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